Cocoa (CC) firmed yesterday, consolidating for a 3rd straight day after Monday’s fresh 2021 high. Significantly, although CC may very well resolve lower in its 4hr triangle today, odds are higher for CC to extend its upchannel (on the daily chart) with this past Monday’s surge to near 2800 bullish as it broke above a month plus Bull Flag consolidation (on the weekly chart)…
Cocoa (CC) surged more than 2% yesterday, closing above downchannel resistance (on the 4hr chart). Significantly, CC is on the brink of resolving the triangle (on the daily chart) to the upside, and is in the advanced stages of a Bull Flag consolidation (on the weekly chart) from near the psychologically key 2600 whole figure level and prior downchannel resistance (on the weekly chart)…
Wheat (ZW) is edging higher to start the week, consolidating the bounce that began mid last week from triangle support (on the daily chart). Significantly, ZW is testing once again the 38.2% Fib retrace of the July to August rally, and appears comfortably above the psychologically key 700 whole figure level…
Arabica Coffee (KC) rallied more than 3% yesterday, breaking above triangle resistance (on the 4hr chart). Significantly, with yesterday’s surge, KC is suddenly at the daily chart triangle resistance, and testing the downtrend resistance (on the weekly chart) connecting the July and September highs…
Cocoa (CC) consolidated for a 3rd straight day yesterday with its daily Doji, continuing to gear up for a retest of last week’s 2021 high. Significantly, CC has been trying to extend its Bull Flag (on the weekly chart) from near the psychologically key 2600 whole figure level and prior downchannel resistance (on the weekly chart), with bulls increasingly eyeing the 2020 high formed in February by year end…
Cocoa (CC) rebounded almost 3% yesterday, bouncing from near triangle support (on the 4hr and daily chart) and closing at the same triangle’s resistance. Significantly, CC has largely completed the 2 week plus consolidation that began after touching a fresh 2021 high, closing yesterday above the psychologically key 2600 whole figure level…
The VIX (VX) is trying to halt its slide since the August high, sitting near a fresh 2021 low. Significantly, although the VX is firmly still within a downchannel (on the weekly chart), the VX is poised to rebound with the 4hr chart descending wedge near completion…
Wheat (ZW) is trying to firm to start the week, continuing last week’s effort to bounce off the 38.2% Fib retrace of the July to August rally. Significantly, ZW appears to be in the middle innings of an orderly consolidation as opposed to the beginning of a Double Top (on the weekly chart) with the August high only slightly above the May high…
Arabica Coffee (KC) edged almost 1% higher yesterday, and is in the advanced stages of consolidating Tuesday’s break above triangle resistance (on the 4hr and daily chart). Significantly, with Robusta Coffee (RC) likely to form a fresh 2021 high by next week sometime, KC is poised to play a bit of catch up and strengthen its bounce off the 38.2% Fib retrace of the November to July rally extension…
WTI Crude (CL) tacked on another near 3% yesterday, adding onto Monday’s massive bounce off downtrend support (on the daily chart). Significantly, although CL appears to have reclaimed upchannel support (on the weekly chart), CL remains vulnerable to sliding back towards last week’s low on the back of Friday’s highly anticipated Fed comments out of Jackson Hole…
